Services
Tax Investigation Service (TIS).
Protect yourself today.
Why should I consider TIS?
There are a number of reasons why HMRC may elect to subject you to a tax enquiry or investigation and receiving the news can be worrying. But more often than not the key is not to panic. You may have been chosen to be investigated as a result of a tax return, specifically where there may have been a mistake or you may have included information which is incorrect. Alternatively, it could be that HMRC are responding to information from external or even internal sources where concerns have been raised about how your tax is declared, or quite simply, and most likely, you will have been selected at random.
Tax enquiries can take two forms: ‘full enquiries’ and ‘aspect enquiries’. Full enquiries can include all aspects of your tax affairs, which could involve both personal and business taxes being investigated including Income Tax, Corporation Tax, VAT, National Insurance and PAYE matters. Aspect enquiries are specific enquiries into particular area (or areas) of your tax affairs and are undertaken in isolation.
Our expertise
It is almost always the case that when facing a tax enquiry or investigation, professional tax and accountancy advice will be required. Our experienced tax team can support you at every stage of the enquiry and deal with HMRC on your behalf.
With investigations often running into months, professional adviser fees can be costly, but this is where our Tax Investigation Service (TIS) can help. It can cover you for the cost of professional fees in the defence or dispute of a claim, giving you the peace of mind that you can be fully reimbursed and that your case will be dealt with by trained professionals.
Protect yourself today
Our tax investigation service is designed to give you cover and peace of mind against any unexpected professional fees incurred to defend your position if HMRC initiates a compliance check.
Please note this service is only available for clients of Scrutton Bland Limited.
Could this be you?
You might be chosen for an enquiry due to the nature of your business, where you live, the property you rent out or perhaps because HMRC has decided to target your particular profession.
HMRC has a computer called Connect which stores all of the information the taxman collects on businesses and people. Specialist analytical experts then trawl through all the data to identify potential risks.
However, a proportion of enquiry cases are selected completely at random.
Services
Reasons to act now.
HMRC is under significant pressure from the government and MPs across all parties to maximise tax collection. As a result, it is increasingly focused on boosting revenue through intensified compliance efforts.
HMRC already holds over 22 billion lines of data – a number that’s set to grow rapidly as tax authorities worldwide begin sharing information through the Common Reporting Standard.
HMRC now has access to all credit and debit card payment data, allowing it to see the number and value of transactions linked to a specific trader. For instance, if a cash-based business reports a turnover of £80,000 but records £75,000 in card payments, HMRC is likely to question whether the remaining £5,000 in cash income has been accurately reported.
Get in touch.
If you would like to find out more about how you can protect yourself against the cost of a tax enquiry or investigation please contact our tax team who will talk you through the options available.
Call us on 0330 058 6559
Email us at hello@scruttonbland.co.uk
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